Ukraine fell short of around €26.3 billion due to failure to meet obligations to partners

Ukraine’s Finance Minister Serhiy Marchenko stated that due to the country’s failure to fulfill its obligations to international partners, Ukraine fell short of around €26.3 billion.

He made the announcement during a speech in the Verkhovna Rada.

According to Marchenko, Ukraine’s total need for external support amounts to around €44.6 billion. The minister stressed the critical nature of the situation.

“This is a matter of Ukraine’s survival; we all must understand how critical this is right now,” — Marchenko said.

The minister cited monthly shortfall statistics: instead of the expected average of around €4 billion per month since January, Ukraine received only around $1.5 billion. Marchenko noted that the shortfall figure should decrease thanks to future tranches, but the volume of funds not received will still remain extremely large.

In addition to external problems, Ukraine is also facing internal shortfalls in the budget: by the end of the year, tax shortfalls will reach around €1.4 billion. Among the main reasons for the situation, Marchenko cited shelling of enterprises, destruction of warehouses, blockading of ports, and a drop in consumer confidence.

Despite the scale of the problems, the minister assured that the government has the situation under control.

“The situation is under control. The only thing we cannot control is the fulfillment of our international obligations,” — Marchenko said.

Against the backdrop of the budget deficit, the authorities allocated additional funding of around €2 million for the telethon.

Previously, the publication reported on which laws the government is demanding the Rada pass in order to meet the conditions of Western donors and use their funds to close the gap in the state budget.